Yukon-Nevada Gold Corp. Special Meeting Results

VANCOUVER, Oct. 2, 2012 /PRNewswire/ – Yukon-Nevada Gold Corp. (TSX: YNG) (OTCBB: YNGFF) (Frankfurt Xetra
Exchange: NG6) Shaun Heinrichs, Co-CEO and CFO and Randy Reichert, Co-CEO and COO of
Yukon-Nevada Gold Corp. (the “Company”) are pleased to announce that
shareholders overwhelmingly approved all resolutions brought before
them at the Company’s Special Meeting of the Shareholders held in
Vancouver, British Columbia on October 2, 2012.

Share Consolidation and Name Change

All of the issued and outstanding common shares of the Company will be
consolidated on the basis of ten (10) old common shares for one (1) new
common share.  The Company’s name will be changed to Veris Gold Corp. 
The TSX will issue a notice disclosing the first trading day on which
the shares of the Company will trade on a consolidated basis. The
shares of the Company will begin trading under the symbol “VG” on the
TSX and, upon acceptance of the Company’s application to the NYSE MKT,
“VGC” in the United States.

Shaun Heinrichs, Co-CEO commented, “The success of this vote allows us
to continue executing on our commitment to shareholders to increase the
value and profile of the Company in the market and begin attracting a
new group of shareholders that would have previously been unable to
invest in our Company.  This will also support our application to the
NYSE MKT exchange which will increase our visibility in the US, where
the Company has seen significant interest from investors looking for
quality investments based in North America over the last several years.
A consolidated share price is also likely to increase investor
participation in Canada for our TSX listing.”

Yukon-Nevada Gold Corp. is a growing mid-tier North American gold
producer in the business of developing and operating gold mines in
geo-politically stable jurisdictions. The Company’s primary asset is
the permitted and operating Jerritt Canyon gold mine located 50 miles
north of Elko, Nevada, USA. The Company also holds a diverse portfolio
of precious metals properties in British Columbia and the Yukon
Territory, Canada, including the former producing Ketza River mine. The
Company’s focus has been on the re-development of the Jerritt Canyon
mining and milling facility.

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The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

WARNING: The Company relies upon litigation protection for
“forward-looking” statements.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States.  The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities Act”)
or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.

SOURCE Yukon-Nevada Gold Corp.